Income Tax Rates Act 1986 (Cth)

Income Tax Rates Act 1986

No. 107, 1986

Compilation No. 64

Compilation date: 1 October 2024

Includes amendments: Act No. 67, 2024

About this compilation

This compilation

This is a compilation of the Income Tax Rates Act 1986 that shows the text of the law as amended and in force on 1 October 2024 (the compilation date).

The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law.

Uncommenced amendments

The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Register (www.legislation.gov.au). The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the Register for the compiled law.

Application, saving and transitional provisions for provisions and amendments

If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.

Editorial changes

For more information about any editorial changes made in this compilation, see the endnotes.

Modifications

If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the Register for the compiled law.

Self‑repealing provisions

If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.

Contents Part I—Preliminary 1 Short title 2 Commencement 3 Interpretation 3A Working holiday makers and working holiday taxable income 4 Incorporation Part II—Rates of income tax payable upon incomes other than incomes of companies, prescribed unit trusts, superannuation funds and certain other trusts Division 1—Preliminary 5 Interpretation Division 3—Rates of tax Subdivision B—Rates of tax and notional rates 12 Rates of tax and notional rates 12A Rate of extra income tax for primary producers Subdivision C—Resident taxpayers, resident beneficiaries and resident trust estates 13 Rates of tax where Division 6AA of Part III of the Assessment Act applies 14 Limitation on tax payable by certain trustees Subdivision D—Non‑resident taxpayers, non‑resident beneficiaries and non‑resident trust estates 15 Rates of tax where Division 6AA of Part III of the Assessment Act applies Division 4—Pro‑rating of the tax‑free threshold 16 Interpretation 18 Part‑year residency period 20 Pro‑rating of the tax‑free threshold Part III—Rates of income tax payable upon incomes of companies, prescribed unit trusts, superannuation funds, certain other trusts and sovereign entities 21 Interpretation 23 Rates of tax payable by companies 23AA Meaning of base rate entity 23AB Meaning of base rate entity passive income 23A Rates of tax payable by life insurance companies 25 Rate of tax payable by trustees of public trading trusts 26 Rates of tax payable by trustees of superannuation funds 27 Rates of tax payable by trustees of approved deposit funds 27A Rates of tax payable by trustees of pooled superannuation trusts 28 Rates of tax payable by certain trustees to whom section 98 of the Assessment Act applies 28A Rates of tax payable by trustees of AMITs under paragraph 276‑105(2)(b) or (c) of the Income Tax Assessment Act 1997 29 Rate of tax on no‑TFN contributions income 30 Rate of tax payable by sovereign entities Schedule 7—General rates of tax Part I—Resident taxpayers Part II—Non‑resident taxpayers Part III—Working holiday makers Schedule 8—Notional rates for the purposes of section 156 of the Assessment Act Part I—Resident taxpayers, resident beneficiaries and resident trust estates Division 1—Normal notional rate Division 2—Notional rates in respect of certain trust income Part II—Non‑resident taxpayers, non‑resident beneficiaries and non‑resident trust estates Division 1—Normal notional rate Division 2—Notional rates in respect of certain trust income Schedule 10—Rates of tax payable by a trustee under section 98 or 99 of the Assessment Act Part I—Resident beneficiaries and resident trust estates Part II—Non‑resident beneficiaries and non‑resident trust estates Schedule 10A—Rates of tax payable by an AMIT trustee under paragraph 276‑105(2)(a) of the Income Tax Assessment Act 1997 Schedule 11—Rates of tax payable on eligible taxable income Part I—Resident taxpayers Part II—Non‑resident taxpayers Schedule 12—Rates of tax payable by a trustee under section 98 of the Assessment Act where Division 6AA of Part III of that Act applies Part I—Resident beneficiaries Part II—Non‑resident beneficiaries Endnotes Endnote 1—About the endnotes Endnote 2—Abbreviation key Endnote 3—Legislation history Endnote 4—Amendment history